Originally Posted by
vagabond
Typhoonpilot, I am hitching my wagon to your horse! I sold some of my beloved Berkshire Hathaway stock and am looking for another investment vehicle. Went to the Everbank website and looked at the Foreign Currency CDs of which you speak. The Chinese Yuan CD is available only as an "Access Deposit Account." And when you look at the APY, it says 0% no matter how much your balance is. The South African Rand one pays 3.25%, but you need 450,000 rands. 450,000 anything is a lot.
Which one were you talking about?
I'm in the Chinese Yuan account. True there is no interest on that one, but the currency is appreciating at the rate of around 10%/year.
I did the Australian Dollar CD for three months then came out of it. That was good, but I'd be hesitant to go in at the current level. I also looked at the Rand, but when I did the country was having it's power blackouts and the currency was depreciating. I'm most comfortable with the Yuan right now as it is my belief it will continue to appreciate slowly but surely.
Typhoonpilot